Nomura hears call of Swedish wireless

MarikoAndo

TOKYO (CBS.MW) -- Nomura Securities Co.’s UK unit has teamed up with Swedish companies to bid for a commercial license to operate next-generation cellular in Sweden, the companies announced late Thursday in London.

Nomura International Plc, a wholly owned subsidiary of Nomura Securities (NRSCY), has formed a consortium with Swedish investment company Ratos AB and broadcaster Teracom, which aims to apply for a Swedish license by the deadline of Sept. 1.

The consortium will also get Swedish telecom giant Ericsson to operate and maintain the network, the companies said in a joint statement.

Sweden is likely to issue up to four licenses after reviewing business plans instead of conducting a competitive bidding process. This process is expected to be completed by the end of November.

The partners have already launched talks with worldwide service and content providers for their services.

“We (Nomura International) are interested not only in the telecommunication business. In fact, we are interested in any kind of business as long as wee see growth potential and promised returns,” said Daiyu Suzuki, a spokesperson at Nomura Securities in Tokyo.

Nomura International, an overseas investment unit of one of Japan’s top securities firms, has been moving aggressively overseas. The company also put in a competitive bid for a U.K. license in April.

The news came out on the same day that the company admitted defeat in its four-month battle to take over Welsh utility Hyder Plc., saying it would not launch another bid to block the offer made by Western Power Distribution of the U.S.

Shares of Nomura closed down 3.2 percent, or 75 yen, at 2,325 yen in Tokyo Friday.

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